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London May Signal End Of Housing Boom

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http://www.telegraph.co.uk/money/main.jhtm...seprices118.xml

Asking prices for property in London have fallen behind the national average for the first time in six

months, signalling an end to the housing boom, according to property website Rightmove.

More than half of London boroughs have seen a fall in asking prices, including popular residential areas such as Hammersmith and Fulham.

In line with my past comments looking at the market over the past weeks.

Edited by crash2006

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http://www.telegraph.co.uk/money/main.jhtm...seprices118.xml

Asking prices for property in London have fallen behind the national average for the first time in six

In line with my past comments looking at the market over the past weeks.

Crikey, that was a bearish article.

"End of the boom" and "traditionally".. seemed to be talking of the boom ending as an unavoidable and obvious part of the cycle.

apom.

But on a serious note... Has kennsington honestly seen over 72% a year?

but Ken is a big area and 2 bed flats can vary from £340,000 to millions.. so spreading a value measurement there would be very hard unless made against a vary granular level.

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http://www.telegraph.co.uk/money/main.jhtm...seprices118.xml

Asking prices for property in London have fallen behind the national average for the first time in six

In line with my past comments looking at the market over the past weeks.

'London notices end of boom'

might have been more appropriate, given that the boom ended a couple of years ago for most of the rest of the country.

No doubt in ten years time wise people on forums like this will be saying that the crash started in London in Q3 2007.

Ho, hum.

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Although news like this is always welcome, I'm not jumping to conclusions just yet. If, in three months, they are still reporting along the same lines as this then that is when I'll begin to show some optimism that this madness has indeed ended.

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Asking prices for property in London have fallen behind the national average for the first time in six months, signalling an end to the housing boom....

This is why I hate the british media - this is just such a f&ckwitted statement that I'm actually viscerally affected by sheer insult it hurls at my intellect.

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RM may well trigger even more panic selling. Although, historically speaking, it was London that stood bravely at the forefront of Great Crash 1 which followed the great SM bust of 1987.

IMO, it seems more likely for London to take the lead in Great Crash 2 as the boom has been strongest there. The "musical chairs" game of flipping is clearly going to come to a sudden halt now that reports are out that London is no longer the place to make quick profits. City types will no longer place bets with their bonuses on property that has clearly peaked and is now on the way doewn (in over 50% of London boroughs).

The next phase will be: who can get out the quickest hoping everyone is not thinking the same thing (GC2 is here).

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